SHAWNEE, KS– Fox Run Apartments, a 515-unit market-rate multifamily community in Shawnee, KS, has just secured a $15.5 million mortgage refinance, a little over one year after a fire severely damaged a portion of the complex. No one was seriously injured in the fire. Financing was based on a 10-year term and a 30-year amortization schedule.
Brent Blake, vice president of NorthMarq's Kansas City regional office, arranged the refinancing for the borrower, Fox Run Apartments, LLC, through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS Lender.
“This transaction is a straight forward refinance of a maturing loan,” said Blake. “The borrower is a repeat client of both NorthMarq and AmeriSphere.”
Located at 7650 Goddard Street, the complex has 1-and-two-bedroom apartments and 2-and-3-bedroom townhomes. It also offers both outdoor and indoor swimming pools and a fitness center.
A western suburb of Kansas City, Missouri, Shawnee, like several of the surrounding towns, made Money Magazine's 2010 “Best Places to Live” survey of small cities, ranking 17th in the United States.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
